Five Ulsan Floating Offshore Wind Companies Sign 6GW Transmission Network Contract with KEPCO

The Ulsan Floating Offshore Wind Power Council, consisting of five developers of floating offshore wind power in Ulsan, signed a contract on the 10th at the Westin Chosun Hotel Busan with Korea Electric Power Corporation (KEPCO) for the use of electrical equipment for power transmission of the world's largest 6GW floating offshore wind power generation. (From left in the photo) Choi Woo-jin, Co-CEO of Bada Energy; Shin Jeong-won, Co-CEO; Jonathan Spink, CEO of Haewool Offshore Wind Power; Lee Kyung-yoon, Head of KEPCO Busan Ulsan Headquarters; Joo Young-gyu, CEO of Munmu Baram; Park Jang-ho, Business Director of Korea Floating Wind Power; Tolgenaken, Project Manager of Firefly Energy. Photo by Ulsan Floating Offshore Wind Power Council

On the 10th, the five developers of the Ulsan Floating Offshore Wind Power Council (hereinafter referred to as Ulbu협) announced that they have signed a contract with Korea Electric Power Corporation (KEPCO) for the use of electrical facilities for power transmission of the world's largest 6GW floating offshore wind power generation.

The contract targets are ▲ Korea Floating Wind Power (Ocean Winds, Mainstream, Geumyang Green Power) 1.125GW, ▲ Munmu Baram (Shell, Hexicon) 1.125GW, ▲ Haeuli Offshore Wind Power 1, 2, 3 (CIP) 1.5GW, ▲ Gwishingorae Offshore Wind Power 1, 2, 3 (Coriogen, TotalEnergies, SK Ecoplant) 1.5GW, and ▲ Firefly Energy (Equinor) 0.75GW, totaling five floating offshore wind power projects.

This contract between the five private developers and KEPCO connects a total of 6GW of power to KEPCO's power grid. Accordingly, the power generated at each floating offshore wind power complex can now be linked to KEPCO's transmission network.

This usage contract is the first time that each company has received a firm commitment from KEPCO for grid connection through joint connection of gigawatt (GW)-scale large-scale renewable power generation facilities after obtaining power generation business permits. Offshore wind power operators aim to complete the configuration of grid connection facilities by the commercial operation start date of each project after completing key procedures such as wind power fixed-price contract bidding and long-term fixed-price contracts, and to operate the power plants in phases.

Park Jang-ho, Chairman of the Ulsan Floating Offshore Wind Power Council and Head of Korea Floating Wind Power Business, said, "The signing of this contract for the use of electrical facilities for power transmission with KEPCO will be another important milestone for the five floating offshore wind power projects being promoted off the coast of Ulsan," adding, "We expect it to contribute to taking one more step toward achieving Korea's renewable energy transition goals."

Lee Kyung-yoon, Head of KEPCO Busan Ulsan Headquarters, said, "This contract is significant in that KEPCO, in cooperation with developers from the power generation business permit stage, thoroughly reviewed the impact of GW-scale offshore wind power on the grid and prepared a plan to stably connect it to the power grid," adding, "This project greatly contributes to realizing Korea's energy transition policy and revitalizing the local economy, so we plan to actively cooperate to ensure the project proceeds on schedule."

Meanwhile, each Ulsan floating offshore wind power complex recently completed the main environmental impact assessment consultation with the Ministry of Environment. Upon completion, it is expected to become the world's largest floating offshore wind power complex.